All the Things: IoT Predictions for 2017

Looking forward to 2017, one of the major technological trends is the sharing eonomy. As a kid, the sharing economy meant trading sports cards or Pokemon cards. In the modern day, technology has leveled up peer to peer transactions. With the rise of apps like Uber or AirBnB, the sharing economy has elevated crowd sourcing to new levels allowing greater personalization of travel as well as greater economic efficiency. For marketers looking for an edge, the increased rise of the sharing economy provides not only an excellent model but also excellent opportunities.

What Is The Sharing Economy?

Not unlike trading cards as children, the sharing economy is borrowing or renting an asset that is underutilized by the owner. As kids, the economic growth arose out of the card received for the card not wanted. As adults, the economic growth is getting money for the location or object not being utilized to its fullest. For example, the AirBnB model allows people to rent rooms that are otherwise empty to people who need them. There is a supply that meets the demands. Unlike trading cards, however, the new sharing economy has grown predominantly in response to technology that connects people internationally who have diverse needs.

Travel Will Be A Model

Although the sharing economy discussions tend to focus on travel, marketers in all areas can learn a lot about how to utilize the peer to peer transaction model for their own products. Most notoriously, AirBnB has taken the lead in connecting peer to peer transactions. Although hotels are predicted to dominate the industry, peer to peer platforms will likely open up longer term stay options for many people. AirBnB and Uber have managed to gain large market shares by connecting individuals who are looking to swap resources and needs. Peer-to-peer marketing, based on the same principals as peer sales platforms, provide expertise, real conversations, and originality that better brand a product. Marketers can help connect individuals using sharing economy concepts.

On-Demand Apps Will Redefine Customer Experience

As people are more likely to try to lower costs in a fluctuating economic environment, on demand apps will continue to drive the sharing economy. People want to be able to do what they want, when they want it, and do it together. For businesses to follow the sharing economy’s on-demand model, they need to change their app development plans. Increasing end-user engagement leads to new ways to market a product and new revenue channels. By leveraging APIs, this digital automation can help promote a business as well as increase income.

Bitcoin Will Be A Catalyst For Click Throughs

For years, bitcoin was considered the golden unicorn of the internetBitcoins are an unregulated currency created through anonymity on the internet and act as the first entirely decentralized peer-to-peer payment network. In essence, bitcoin is the definition of fiat money. Large numbers of users determine how valuable the credits are, giving them a sense of community value, then store them in digital wallets and use them as payment for goods and services. In the last few months, bitcoin value has risen steadily as investors try to protect their money from unstable markets in the wake of political shifts. With this rise of bitcoin’s social acceptance, performance marketing and affiliate programs are also seeing a rise in use. Bitcoin purchases reward any transaction with a percentage approach. For marketers, this can mean providing rewards for clicking through to a site or completing specific actions.

Blockchain Technology Will Transform Digital Marketing

Similar to a database, blockchain is the bank of bitcoin. In essense, people using bitcoin created encrypted data “blocks” that use cryptographic validation to link themselves together. Although blockchain stores bitcoin value, acting similar to a bank, its decentralized nature makes it the foundation of an economic sharing economy. Blockchain technology, and its rise due to the increased use of Bitcoins, can help decentralize the advertising world allowing better metrics. With blockchain technology, central authorities will no longer disrupt displaying ad networks, marketers can beat online ad fraud, and digital currency will allow for payments to be processed without a third party taking a percentage.

As people embrace the sharing economy, true peer to peer transactions will continue to grow in viability. Looking toward 2017, the sharing economy acts as a model of business success as well as a tool formarketing success.